Jeffrey Katzenberg’s New Contract Will Keep Him At DreamWorks Animation Through 2017

The CEO and just about all of the other top execs have landed new employment deals, DreamWorks Animation says in an SEC filing. Jeffrey Katzenberg‘s agreement, which was due to expire in April 2014, now runs through October 23, 2017 and guarantees him an annual salary of $2.5M, up from $1 — an amount that’s more common in Silicon Valley when execs own large stakes in their companies. But his long-term equity incentive awards were reduced to a target of $4.5M from $8M. Terms also allow him to be reimbursed for using a private jet for business-related travel, and for security services. COO Ann Daly also has a new agreement that, like Katzenberg’s, runs through October 2017. Her base salary will rise to $1.5M a year from $1M, and could provide her with cash incentives that will hit $1.5M beginning next year, twice her current take. Andrew Chang plans to remain General Counsel at least to the beginning of 2016.

The execs also will receive special benefits if someone else takes over DreamWorks Animation and wants to clean house. Among other things, they can continue to collect their base salaries, benefits and bonuses for either the rest of their contracts or for two years — which ever is longer.

12 Comments

Stinkythecat • on Oct 30, 2012 2:51 pm

God,is he ever going to go away.If you need a laugh read his Disney manifesto from his time there.

Tooner • on Oct 30, 2012 2:51 pm

Sounds like silver parachutes all around. Not rich enough to be gold but good enough to facilitate a sale to Fox after the distribution deal begins in 2014. Stock and options will make the sale platinum for JK, Ann Daly and likely Bill Damashke as well.

Ripsnorter • on Oct 30, 2012 2:51 pm

I rate Katzenberg’s worth closer to the $1 cited in the article.

Aggregator • on Oct 30, 2012 2:51 pm

Dislike him though many do, you could hunt all year and not find a single studio chief in Hollywood only paying himself $2.5 million per year with $4.5 million in long-term equity. The outsized pay of cretins like Phillippe Dauman at Viacom ($25million/year + $50 million bonuses ever few years) or anyone at Fox or Warner Bros. only serve to show how dedicated to his company that Katzenberg is. The salaries of the top 10 people at Disney outnumber their losses from John Carter, but what do they do for that money that Katzenberg doesn’t do? NOTHING. He is a real startup mentality guy in a field full of bean counter executives from McDonalds without an ounce of creativity in their entire executive lineup.

disgruntled viewer • on Oct 30, 2012 2:51 pm

Agreed. He BUILT the company. He’s a true entrepreneur, unlike most Hollywood CEO’s, who are hired guns.

He may be controversial to some (not me), but he’s a “doer” and not a blowhard, like so many posters.

Stinkythecat • on Oct 30, 2012 2:51 pm

The creative talent built the company he just coattails off of them.

DJ Tripp • on Oct 30, 2012 2:51 pm

I worked there for Jeffrey in a high level creative capacity before the IPO and while the creative talent is certainly important (and there is a LOT of great talent there), the studio exists only because of Jeffrey and, for better or worse, he involves himself in the creative direction of each and every film and the studio in general to a large and arguably excessive degree. He does not ride anyone’s coattails and like him or not, you have to respect him, what he has built and what he has done for animation. I certainly do.

Stinkythecat • on Oct 30, 2012 2:51 pm

Thanks for commenting Djeffrey Tripp,btw what has he done for animation other then being self serving?

DJ Tripp • on Oct 30, 2012 2:51 pm

He built a studio that employs almost a thousand animation artists, produces two films a year and four television series. That counts in my book even if you don’t personally like him (if you’ve even ever met him).

Maxim • on Oct 30, 2012 2:51 pm

Stinky, I’m sure that according to morons like yourself, a CEO is completely useless position.

In reality, not only is Jeffrey one of the finest CEOs (and industry captains) in the world, he is also able to lead a company that is not only consistently successful but is also consistently ranked in the top 10 best companies to work for period.

It doesn’t get any better than this it absolutely deserves praise because it is so incredibly rare.

The only coattails he got are the coattails of the company he build and continues to lead. So shut the the beep up.

What he did for animation? Why don’t you go back to the role he played in the Disney renaissance. He did more than you’d expect for a man in his position.

Oh, and his recent single donation of $30 million is more than he stands to earn through his entire contract.

Ernie • on Oct 30, 2012 2:51 pm

Jeff shows us why he deserves his recent contract and probably more. Going from 200 million dollar ANTZ of the U.S. to nearly a billion dollar Madagascar globally is shear genius. There’s probably a line to get into his studio for voice overs in the next film.